Illinois

Former Gov. James R. Thompson Lives Lavishly as Social Security Recipients Struggle

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CHICAGO—Former Illinois Governor James R. Thompson, who in 1983 and 1989 engineered raising Illinois’ state personal and corporate income tax rates by 20 percent, will receive a generous increase to his lavish, gold-plated state pension on July 1, 2016, while Illinois residents on Social Security government pensions will see negligible increases to their own benefits next year.
Thompson’s annual pension as of 2016 is $147,477. On July 1, his annual cost-of-living increase of 3% will boost his annual government pension by $4,424.
Compare those figures to Social Security recipients, whose cost-of-living increase of two-tenths of one percent for 2017 was just recently announced. For those receiving a Social Security pension of $1,000 a month, that cost-of-living increase amounts to only $24 annually, or nearly one-hundred eight-five times less than that of Thompson.
“It is obscene that tax-raiser Thompson is pulling in millions of dollars from the essentially bankrupt state pension fund, while retirees on Social Security pensions, whose earnings were taxed to prop-up his state pension fund, must get by with an increase of $2 or $3 a month in 2017,” said Jim Tobin, President of Taxpayers United of America (TUA).
Under Thompson, the state personal income tax was raised from 2.5% to 3%, and the state corporate income tax to 7.3%, including the 2.5% personal property replacement-tax surcharge.
“This is an example of how corrupt the Illinois government is and has always been,” said Tobin. “Thompson, who retired at age 55, and who has contributed only $84,996 to his pension plan, already has collected $2.5 million to date, and his estimated lifetime pension payout is $3.38 million. He should be ashamed, Social Security pensioners and taxpayers alike should demand immediate reform.”
To understand the tax burden Illinois taxpayers face due to unfunded government pension liabilities, see TUA’s 10th Annual Illinois State Pensions Report.

TUA Celebrates 40 Years Protecting Taxpayers

View as PDF CHICAGO— Today marks the 40th anniversary of the founding of Taxpayers United of America (TUA), a Chicago-based tax watchdog group that has successfully fought taxes at the local, state, and federal levels, while championing the interests of taxpayers.
Founded in 1976 by economist and activist Jim Tobin while still employed as a bank examiner at the Chicago branch of the Federal Reserve Bank, Tobin was disgusted by what he saw from the inside and left the government sector to work on behalf of taxpayers. TUA has since gone on to become one of the largest taxpayer organizations in America.
“I’d love to continue this work for another 40 years,” said TUA founder and president, Jim Tobin. “Our work is critically important now more than ever, and it’s incredibly rewarding to work on behalf of taxpayers and lessen the tax burden foisted upon them by politicians and governments.”
Since TUA’s founding, the taxpayer watchdog group has made an impact on tax policy in Illinois and across America. In 1977, Tobin led the first successful property tax strike in modern Illinois history. In the past four decades, TUA has been victorious in defeating 419 tax-increase referenda, stopping 19 state income tax hikes, and defeating every attempt to enact a graduated state income tax in Illinois since 1992. TUA’s leadership and members were instrumental in repealing the Medicare Catastrophic Coverage Act of 1988, legislation that increased taxes on all senior citizens, which was the first time a major federal entitlement had ever been repealed.
All combined, TUA has saved local, state, and federal taxpayers more than $200 billion of their hard-earned money since 1976.
As TUA begins a new decade of their tax-fighting mission, the organization has announced staff changes.
“I am honored to retire my position as Executive Director for TUA and pass the baton to Jared Labell,” said Rae Ann McNeilly. “There is no question that Jared has the skill, vision, and brilliance to take TUA into the next 40 years of fighting on behalf of taxpayers.”
“It has been my honor and privilege to fight the government machine under the guidance and integrity of Jim Tobin. He has stood against overwhelming odds and worked a lifetime to halt the blatant government assault on taxpayers. Of course, you never completely retire from this work; it’s in your blood. I will continue to support TUA in a more limited capacity as Senior Researcher,” concluded McNeilly.
“TUA would not be where we are today without Rae Ann’s contributions over the past 5 years,” said Tobin. “She began as a volunteer before joining the organization, but her passion and knowledge made her one of our greatest assets. Her commentary and research for TUA will continue to be of the highest caliber.”
“I am forever in Rae Ann’s debt and honored to succeed her,” said Jared Labell, TUA’s new Executive Director. “She remains my great mentor, my colleague, and my friend. I look forward to making her and Jim proud as TUA continues to defend taxpayers from destructive government policies and burdensome taxation.”

Tobin Talks Tax Revolts and Government Pensions in Glenview

Glenview–On Thursday, June 23, 2016, Jim tobin, founder and president of Taxpayers United of America (TUA), spoke before a crowd of more than sixty taxpayers in Glenview, IL to discuss the financial challenges taxpayers are currently facing in Illinois, and the chances of substantive reforms.
Organized by Lucinda Kasperson, Tobin recounted for attendees TUA’s four decades of work and activism on behalf of taxpayers across Illinois and America. He also highlighted a recent TUA report analyzing local pensions, including Glenview, and discussed how local property taxes fund the lavish benefits and retirements of former government employees.
Tobin also offered some solutions to the state’s ongoing financial crisis, which is driven by outrageous government pension liabilities.
Tobin concluded by discussing TUA’s recent 10th Annual Illinois State Pensions Report. The analysis includes both short-term and long-term policy solutions, like transitioning away from the defined benefit pension system and offering 401(k)-style plans to new government employees, and more enduring changes, like amending or repealing the Illinois Constitution’s pension-protection clause – Article XIII, Section 5 – and allowing municipalities, school districts, and other taxing districts to reorganize through Chapter 9 bankruptcy.
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Taxpayers United Of America: (TUA). is a nonpartisan, 501(c)(4) taxpayer advocacy group. Founded June 27, 1976 in Chicago, Illinois by activist and economist Jim Tobin, TUA works on behalf of taxpayers to reduce local, state, and federal taxes. In the past forty years, TUA has saved taxpayers more than $200 billion n taxes and has become one of the largest taxpayer organizations in America. Check All posts. s.

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Phone: (312) 427-5128
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Website: https://taxpayersunitedofamerica.org
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